Wolters Kluwer Buys Origination Vendor

Wolters Kluwer Corporate & Financial Services, Minneapolis, has acquired GulfPak Corp., a provider of automated lending and account origination technology to U.S. financial organizations.GulfPak, Jackson, Miss., provides its compliance-based technology to more than 700 financial organizations. Recently, GulfPak implemented a series of product enhancements to its automated systems including mortgage origination, imaging and e-signature functionality. GulfPak will become part of the Financial Services business unit of Wolters Kluwer, whose product brands include Bankers Systems, PCi and VMP Mortgage Solutions. Jay Tindall, president and chief executive officer of GulfPak, will join the Wolters Kluwer Financial Services management team and will continue to provide leadership for the Jackson operation where GulfPak has approximately 37 employees. Terms of the purchase agreement were not released. The acquisition is subject to GulfPak shareholder approval. Wolters Kluwer Financial Services can be found on the Web at http://www.wolterskluwerfs.com.

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